Justice Department Clears $111 Billion Paramount-Warner Bros. Deal as California Review Continues
Updated
Updated · POLITICO · Jun 12
Justice Department Clears $111 Billion Paramount-Warner Bros. Deal as California Review Continues
3 articles · Updated · POLITICO · Jun 12
Summary
$111 billion Paramount acquisition of Warner Bros. won Justice Department approval after an eight-month antitrust review, removing the biggest federal hurdle to closing.
More than 2 million documents, depositions and coordination with state attorneys general led the Antitrust Division to conclude the deal was unlikely to harm competition and could create a stronger rival in streaming, TV and film.
California Attorney General Rob Bonta is still investigating and could sue to block the merger despite the federal signoff, keeping legal risk alive.
Paramount has argued the combination would better challenge Netflix and tech platforms, while critics warn its projected $6 billion-plus in synergies could mean layoffs and fewer opportunities for creators.
The decision ends months of intense lobbying and a public fight in Washington after Netflix dropped its own bid and Paramount accused the streamer of trying to rally opposition.